HomeMy WebLinkAboutLicense Agreement IMT MorisetteLICENSE AGREEMENT
(Bienville Square)
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This License Agreement ("Agreement") is effective this 6"; day of November, 2009, between
Idaho 1Vlutual Trust, LLC, a Delaware limited liability company ("IMT") and Gerry Morisette, an
individual ("Licensee") (Licerisee~is referred'to~in the' singulaf'for:simplicXty'.regardless; of~the~number~of
licensees): , . ... , , . ~.
In` considei ation of the mutual promises contained in this Ageement, the Pazties agee that the
following'Recitals are correct and that the-terms of this Ageement aze binding: ~ "
RECITALS
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A. IMT owns the real property commonly known as the Bienville Square Subdivision, located in
Meridian, Ada County, Idaho (the "Subdivision"). The Subdivision is more particularly described on
attached Ezhibit A and is marked as "Bienville Square Subdivision" on the drawing attached hereto as
Ezhibit B.
B. Licensee owns the real property commonly known as 1438 Leslie Way, Meridian, Ada County,
Idaho 83646 ("Licensee's Property"). Licensee's Property is marked as "GM" on Ezhibit B.
C. A cinder block fence runs along the Westerly boundary of the Subdivision in the approximate
location depicted on Ezhibit B (the "Fence"). The Fence is not located directly on the boundary between
the Subdivision and Licensee's Property. It is located approximately four feet (4') inside the boundary of
the Subdivision: ~ The four foot gap~between the Fence and Licensee's Property (the "Subject Property")
is the subject of this Agreement: '
D." `° The Fence was erected to provide a barrier between the Subdivision and the neighboring
community where Licensee's Proparty is looatedt' The $erie~ does~tlotreflect the:legal boundary for the
Subdivision:` '~' , ... ,:~,.. ~~. ~ .. .. ... ~ "
E. Licensee desires to have the use of the Subject Property pursuant to the terms of this Agreement.
AGREEMENT
1. GRANT OF LICENSE. IMT grants to Licensee a license to occupy and use the Subject
property, pursuant to the terms and conditions of this Agreement (the "License'. As consideration for
the ganting of the License, Licensee agees and acknowledges that the Fence has been constructed in an
acceptable manner and relinquishes all objections, if any, relating to the installation of the Fence.
2. TERM OF LICENSE. The License shall remain effective and inure to the benefit of Licensee's
heirs and assigns unless the Fence is demolished. In the event the Fence is demolished, the License shall
terminate.
3. INDEMNIFICATION. Licensee (jointly and severally if more than one) agees to indemnify
and hold IMT harmless from any claims, damages, liabilities, costs or expenses relating to Licensee's, or
Licensee's guests, agents or invitees, use of the Subject Property.
4. ADDITIONAL CONSIDERATION. As additional consideration, IMT agees to construct a six
foot (6') cedar privacy fence with steel posts and a locking gate across the portion of the Alleman Lateral
where there is a gap in the Fence (the "Cedar Fence"). The construction of the Cedar Fence is contingent
upon IMT receiving written authorization from the Alleman Lateral as required in the Lateral Easement
and License Agreement recorded on February 14, 2008, with the Ada County Recorder as Instrument No.
108016794.
5. ENTIItE AGREEMENT. This Agreement contains the entire agreement between the parties to
this Agreement with respect to the subject matter of this Agreement and supersedes all prior
understandings, agreements, representations and warranties, if any, with respect to such subject matter.
IDAHO MUTUAL TRUST, LLC
By: ~Be Sla r .~
Its: A zed Member
Date: ll~3c'~ `~
GERRY MORISETTE
ate:
EXHIBIT A
LEGAL DESCRIPTION
Lots 1, 2, 3, 4, 5, 6, 7, 8, 9,10, 11, 12, 13, 14, 15, 16, 17, 18,19, 20, 21, 22, 23, 24, 25, 26, 27 & 28 in
Block 1, Lots 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12,13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28,
29, 30, 31, 32, 33, 34 & 35, Block 2 and Lot 1 in Block 3 of Bienville Square Subdivision, according to the
plat thereof filed in Book 102 of Plats at Page 13,495 thru 13,498, records of Ada County, Idaho.
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